Forbes' annual report valuing all 31 NHL franchises revealed that the New York Rangers are the league's most expensive club.
Valued at $1.5 billion, the Rangers edged out four other Original Six franchises for the top spot.
With a one-year value change of 20-percent, the Blueshirts bring in the NHL's largest revenue at $294 million and possess its highest operating cost at $94 million.
It's easy to see why. Playing in Madison Square Garden, the world's most famous arena, in the heart of the largest sports market in the world, the Rangers have made the postseason seven-straight times. That includes three trips to the Eastern Conference Finals and an appearance in the 2014 Stanley Cup Final.
The other team in New York City, the Islanders, are on the opposite end of the list, ranking 22nd in the league with a $395 million value. That number could go up though if the Islanders are able to secure the land near Belmont Park in Elmont, NY to build their own arena, sign John Tavares to a long-term extension and continue their ascent as competitors in the Eastern Conference.
Here is the full list from Forbes:
1. New York Rangers: $1.5 billion
2. Toronto Maple Leafs: $1.4 billion
3. Montreal Canadiens: $1.25 billion
4. Chicago Blackhawks: $1 billion
5. Boston Bruins: $890 million
6. Los Angeles Kings: $750 million
7. Philadelphia Flyers: $740 million
8. Vancouver Canucks: $730 million
9. Detroit Red Wings: $700 million
10. Pittsburgh Penguins: $650 million
11. Washington Capitals: $625 million
12. Edmonton Oilers: $520 million
13: Dallas Stars: $515 million
14. Vegas Golden Knights: $500 million
15. San Jose Sharks: $490 million
16. Anaheim Ducks: $460 million
17. St. Louis Blues: $450 million
18. Minnesota Wild: $440 million
19. Calgary Flames: $430 million
20. Ottawa Senators: $420 million
21. New Jersey Devils: $400 million
22. New York Islanders: $395 million
23. Tampa Bay Lightning: $390 million
24. Colorado Avalanche: $385 million
25. Nashville Predators: $380 million
26. Winnipeg Jets: $375 million
27. Carolina Hurricanes: $370 million
28. Buffalo Sabres: $350 million
29. Columbus Blue Jackets: $315 million
30. Florida Panthers: $305 million
31. Arizona Coyotes: $300 million
Follow Joe Pantorno on Twitter @JoePantorno